Canara Bank PPF Calculator – Calculate PPF Interest & Maturity
The Canara Bank PPF Calculator is a helpful tool for individuals looking to invest in the Public Provident Fund (PPF) and forecast their tax-free returns. Backed by the Government of India, the PPF scheme offered by Canara Bank is one of the most trusted and secure long-term investment options for building a retirement corpus.
About Canara Bank PPF Account
Canara Bank allows individuals to open and operate a PPF account with minimum paperwork and maximum convenience. The PPF has a fixed 15-year lock-in period with an option to extend in blocks of 5 years. Contributions can range from ₹500 to ₹1.5 lakh per year, with interest compounded annually and exempt from tax.
How Canara Bank PPF Calculator Helps You
This online calculator simplifies your financial planning by:
- Calculating the expected maturity amount based on your input
- Estimating the total interest earned
- Allowing you to adjust investment amounts to compare different plans
Canara Bank PPF Scheme Features
- Minimum annual deposit: ₹500
- Maximum annual deposit: ₹1.5 lakh
- Interest rate: ~7.1% p.a. (revised quarterly by the government)
- Partial withdrawal allowed after 7 years
- Loan facility available from the 3rd year
Sample Calculation
If you invest ₹1,50,000 annually for 15 years in your Canara Bank PPF account at 7.1% annual interest:
- Total Investment: ₹22,50,000
- Total Interest Earned: ₹18,18,209
- Maturity Amount: ₹40,68,209
PPF Tax Benefits
PPF offers tax exemptions under the EEE (Exempt-Exempt-Exempt) category:
- Contribution: Tax deductible under Section 80C
- Interest: Tax-free
- Maturity: Fully tax-free
Why Use Canara Bank PPF Calculator?
- Instantly estimate your future savings
- Compare different annual or monthly contributions
- Plan better for retirement or long-term goals
- No login or registration needed
Conclusion
The Canara Bank PPF Calculator is an essential financial tool for those looking to invest safely and grow their wealth tax-free. It empowers you to plan your PPF contributions smartly and predict the maturity value of your investment. Start using it today and take control of your long-term savings journey with Canara Bank.